SB2-SSA1,28,2215
71.26
(2) (b) 13. a. For taxable years beginning after December 31, 2020, for a
16corporation, conduit, or common law trust that qualifies as a regulated investment
17company, real estate mortgage investment conduit, real estate investment trust, or
18financial asset securitization investment trust under the Internal Revenue Code,
19“net income" means the federal regulated investment company taxable income,
20federal real estate mortgage investment conduit taxable income, federal real estate
21investment trust, or financial asset securitization investment trust taxable income
22of the corporation, conduit, or trust as determined under the Internal Revenue Code.
SB2-SSA1,28,2523
b. For purposes of subd. 13. a., “Internal Revenue Code" means the federal
24Internal Revenue Code as amended to December 31, 2020, except as provided in
25subd. 13. c. and d. and s. 71.98 and subject to subd. 13. e.
SB2-SSA1,29,25
1c. For purposes of subd. 13. a., “Internal Revenue Code" does not include the
2following provisions of federal public laws for taxable years beginning after
3December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
4106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
5109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
6P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
7110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
815351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
9312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
101501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
11111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
12111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
13411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
14P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
15171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
1613201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
1713801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
1814221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
1940306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
20sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
21(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
22115-141; sections 104, 114, 115, 116, 130, and 145 of division Q of P.L.
116-94;
23sections 2304 and 2306 of P.L.
116-136; and sections 101, 111, 114, 115, 116, 118 (a)
24and (d), 133, 137, 138, 202, 210, 211, and 213 of division EE and sections 276 and 278
25of division N of P.L.
116-260.
SB2-SSA1,30,2
1d. For purposes of subd. 13. a., “Internal Revenue Code" does not include
2amendments to the federal Internal Revenue Code enacted after December 31, 2020.
SB2-SSA1,30,133
e. For purposes of subd. 13. a., the provisions of federal public laws that directly
4or indirectly affect the Internal Revenue Code, as defined in this subdivision, apply
5for Wisconsin purposes at the same time as for federal purposes, except that changes
6made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308, 40309,
740311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L.
115-123; section 101 (a),
8(b), and (h) of division U of P.L.
115-141; section 1203 of P.L.
116-25; section 1122 of
9P.L.
116-92; section 301 of division O, section 1302 of division P, and sections 101,
10102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301, and 302 of
11division Q of P.L.
116-94; section 2 of P.L.
116-98; and sections 301, 302, and 304 of
12division EE of P.L.
116-260 apply for taxable years beginning after December 31,
132020.
SB2-SSA1,61
14Section 61
. 71.26 (2) (b) 14. of the statutes is created to read:
SB2-SSA1,30,1615
71.26
(2) (b) 14. For purposes of s. 71.26 (2) (b) 2., 2013 stats., “Internal Revenue
16Code" includes section 109 of division U of P.L.
115-141.
SB2-SSA1,62
17Section
62. 71.28 (6) (h) of the statutes is amended to read:
SB2-SSA1,31,418
71.28
(6) (h) Any person, including a nonprofit entity described in section
501 19(c) (3) of the Internal Revenue Code, may sell or otherwise transfer the credit under
20par. (a) 2m. or 3., in whole or in part, to another person who is subject to the taxes
21imposed under s. 71.02, 71.23, or 71.43, if the person notifies the department of the
22transfer, and submits with the notification a copy of the transfer documents, and the
23department certifies ownership of the credit with each transfer.
The transferor may
24file a claim for more than one taxable year on a form prescribed by the department
25to compute all years of the credit under par. (a) 2m. or 3., at the time of the transfer
1request. The transferee may first use the credit to offset tax in the taxable year of
2the transferor in which the transfer occurs, and may use the credit only to offset tax
3in taxable years otherwise allowed to be claimed and carried forward by the original
4claimant.
SB2-SSA1,63
5Section 63
. 71.34 (1g) (c), (d), (e), (f), (g), (h) and (i) of the statutes are repealed.
SB2-SSA1,64
6Section 64
. 71.34 (1g) (j) 3. m. of the statutes is created to read:
SB2-SSA1,31,87
71.34
(1g) (j) 3. m. Sections 101 (m), (n), (o), (p), and (q), 104 (a), and 109 of
8division U of P.L.
115-141.
SB2-SSA1,65
9Section 65
. 71.34 (1g) (j) 3. n. of the statutes is created to read:
SB2-SSA1,31,1110
71.34
(1g) (j) 3. n. Section 102 of division M and sections 110, 111, and 116 (b)
11of division O of P.L.
116-94.
SB2-SSA1,66
12Section 66
. 71.34 (1g) (k) 3. of the statutes is amended to read:
SB2-SSA1,31,1813
71.34
(1g) (k) 3. For purposes of this paragraph, “Internal Revenue Code" does
14not include amendments to the federal Internal Revenue Code enacted after
15December 31, 2016, except that “Internal Revenue Code” includes sections 11024,
1611025, and 13543 of P.L.
115-97; sections 40307 and 40413 of P.L. 115-123; sections
17101 (m), (n), (o), (p), and (q), 104 (a), and 109 of division U of P.L. 115-141; and section
18102 of division M and sections 110, 111, and 116 (b) of division O of P.L. 116-94.
SB2-SSA1,67
19Section 67
. 71.34 (1g) (L) 1. of the statutes is amended to read:
SB2-SSA1,31,2320
71.34
(1g) (L) 1. For taxable years beginning after December 31, 2017,
and
21before January 1, 2021, for tax option corporations, “Internal Revenue Code" means
22the federal Internal Revenue Code as amended to December 31, 2017, except as
23provided in subds. 2., 3., and 5. and s. 71.98 and subject to subd. 4.
SB2-SSA1,68
24Section 68
. 71.34 (1g) (L) 3. of the statutes is amended to read:
SB2-SSA1,32,11
171.34
(1g) (L) 3. For purposes of this paragraph, “
Internal Revenue Code" does
2not include amendments to the federal Internal Revenue Code enacted after
3December 31, 2017, except that “Internal Revenue Code” includes
sections 40307,
440413, and 41113 of P.L. 115-123, sections 101 (m), (n), (o), (p), and (q), 104 (a), 109,
5401 (a) (54) and (b) (15) (A), (B), and (C), 19, 20, 23, 26, 27, and 28 of division U of P.L.
6115-141; sections 102 and 104 of division M, sections 102, 103, 106, 107, 108, 109,
7110, 111, 113, 114, 115, 116, 201, 204, 205, 206, 302, 401, and 601 of division O, section
81302 of division P, and sections 131, 202 (d), and 205 of division Q of P.L. 116-94; 9sections 1106, 2202, 2203, 2204, 2205, 2206, 2307, 3608, 3609, 3701, and 3702 of
10division A of P.L.
116-136; and sections 208, 209, and 214 of division EE and sections
11277, 280, and 285 of division N of P.L. 116-260.
SB2-SSA1,69
12Section 69
. 71.34 (1g) (L) 4. of the statutes is amended to read:
SB2-SSA1,32,1813
71.34
(1g) (L) 4. For purposes of this paragraph, the provisions of federal public
14laws that directly or indirectly affect the Internal Revenue Code, as defined in this
15paragraph, apply for Wisconsin purposes at the same time as for federal purposes
,
16except that changes made by P.L. 115-63 and sections 11026, 11027, 11028, 13207,
1713306, 13307, 13308, 13311, 13312, 13501, 13705, 13821, and 13823 of P.L. 115-97
18first apply for taxable years beginning after December 31, 2017.
SB2-SSA1,70
19Section 70
. 71.34 (1g) (m) of the statutes is created to read:
SB2-SSA1,32,2320
71.34
(1g) (m) 1. For taxable years beginning after December 31, 2020, for tax
21option corporations, “Internal Revenue Code" means the federal Internal Revenue
22Code as amended to December 31, 2020, except as provided in subds. 2., 3., and 5. and
23s. 71.98 and subject to subd. 4.
SB2-SSA1,33,2324
2. For purposes of this paragraph, “Internal Revenue Code" does not include
25the following provisions of federal public laws for taxable years beginning after
1December 31, 2020: section 13113 of P.L.
103-66; sections 1, 3, 4, and 5 of P.L.
2106-519; sections 101, 102, and 422 of P.L.
108-357; sections 1310 and 1351 of P.L.
3109-58; section 11146 of P.L.
109-59; section 403 (q) of P.L.
109-135; section 513 of
4P.L.
109-222; sections 104 and 307 of P.L.
109-432; sections 8233 and 8235 of P.L.
5110-28; section 11 (e) and (g) of P.L.
110-172; section 301 of P.L.
110-245; section
615351 of P.L.
110-246; section 302 of division A, section 401 of division B, and sections
7312, 322, 502 (c), 707, and 801 of division C of P.L.
110-343; sections 1232, 1241, 1251,
81501, and 1502 of division B of P.L.
111-5; sections 211, 212, 213, 214, and 216 of P.L.
9111-226; sections 2011 and 2122 of P.L.
111-240; sections 753, 754, and 760 of P.L.
10111-312; section 1106 of P.L.
112-95; sections 104, 318, 322, 323, 324, 326, 327, and
11411 of P.L.
112-240; P.L.
114-7; section 1101 of P.L.
114-74; section 305 of division
12P of P.L.
114-113; sections 123, 125 to 128, 143, 144, 151 to 153, 165 to 167, 169 to
13171, 189, 191, 307, 326, and 411 of division Q of P.L.
114-113; sections 11011, 11012,
1413201 (a) to (e) and (g), 13206, 13221, 13301, 13304 (a), (b), and (d), 13531, 13601,
1513801, 14101, 14102, 14103, 14201, 14202, 14211, 14212, 14213, 14214, 14215,
1614221, 14222, 14301, 14302, 14304, and 14401 of P.L.
115-97; sections 40304, 40305,
1740306, and 40412 of P.L.
115-123; section 101 (c) of division T of P.L.
115-141;
18sections 101 (d) and (e), 102, 201 to 207, 301, 302, and 401 (a) (47) and (195), (b) (13),
19(17), (22) and (30), and (d) (1) (D) (v), (vi), and (xiii) and (xvii) (II) of division U of P.L.
20115-141; sections 104, 114, 115, 116, 130, and 145 of division Q of P.L.
116-94;
21sections 2304 and 2306 of P.L.
116-136; and sections 101, 111, 114, 115, 116, 118 (a)
22and (d), 133, 137, 138, 202, 210, 211, and 213 of division EE and sections 276 and 278
23of division N of P.L.
116-260.
SB2-SSA1,33,2524
3. For purposes of this paragraph, “Internal Revenue Code" does not include
25amendments to the federal Internal Revenue Code enacted after December 31, 2020.
SB2-SSA1,34,11
14. For purposes of this paragraph, the provisions of federal public laws that
2directly or indirectly affect the Internal Revenue Code, as defined in this paragraph,
3apply for Wisconsin purposes at the same time as for federal purposes, except that
4changes made by sections 20101, 20102, 20104, 20201, 40201, 40202, 40203, 40308,
540309, 40311, 40414, 41101, 41107, 41114, 41115, and 41116 of P.L.
115-123; section
6101 (a), (b), and (h) of division U of P.L.
115-141; section 1203 of P.L.
116-25; section
71122 of P.L.
116-92; section 301 of division O, section 1302 of division P, and sections
8101, 102, 103, 117, 118, 132, 201, 202 (a), (b), and (c), 204 (a), (b), and (c), 301, and
9302 of division Q of P.L.
116-94; section 2 of P.L.
116-98; and sections 301, 302, and
10304 of division EE of P.L.
116-260 apply for taxable years beginning after December
1131, 2020.
SB2-SSA1,34,15125. For purposes of this paragraph, section
1366 (f) of the Internal Revenue Code
13(relating to pass-through of items to shareholders) is modified by substituting the
14tax under s. 71.35 for the taxes under sections
1374 and
1375 of the Internal Revenue
15Code.
SB2-SSA1,71
16Section 71
. 71.34 (1u) of the statutes is created to read: